Xero or MYOB users on Auto Pay Super
A reminder that the Superannuation Guarantee quarterly payment deadline for the April to June 2022 period is due Thursday 28 July 2022. There are stiff fines and penalties for late paid superannuation. This includes superannuation for sub-contractors where you are liable to pay super.
For those businesses on MYOB or Xero, it is suggested you submit and approve Auto Super batches before 2.00pm AEST, Monday 18th July 2022, which should allow for contributions to reach super fund providers no later than the payment deadline of 28 July.
Want to claim super in your business or tax return? Read this first
Individuals, and businesses where you are not paying via Xero or MYOB’s Auto Super contributions, we will need confirmation from your super fund that it is treating the contributions during the year as tax deductible. Just because you contribute to a super fund, doesn’t mean you or your business can claim a deduction for the contributions unless you have completed the ATO form “Notice of Intent to Claim“, and supplied us with confirmation that the fund is taking 15% tax out of your contribution.
